Considered a key indicator of economic conditions prevailing in a country, luxury car sales have registered significant growth in July. Both MoM and YoY numbers are positive, which appears to be an encouraging development for the country’s auto industry. Covid-19 related restrictions have been lifted is most parts, which is another factor that seems to have helped boost car sales.
In July, a total of 2,318 luxury cars were sold. YoY growth is 133.43%, as compared to 993 units sold in the corresponding period last year. MoM growth is at 79.69%, as compared to 1,290 units sold in June. All luxury car brands have positive YoY and MoM growth in July.
Mercedes continues to be the most preferred luxury car brand in the Indian market. A total of 974 units were sold in July. YoY growth is at 127.57%, as compared to 428 units sold in July last year. MoM growth is 78.39%, as compared to 546 units sold in June. Mercedes commanded market share of 42.02% in July.
At number two is BMW with sales of 652 units in July. YoY growth is 133.69%, as compared to 279 units sold in July last year. MoM numbers are up by 67.18%, as compared to 390 units sold in June. BMW market share is at 28.13%.
Volkswagen Audi takes the third spot with sales of 279 units in July. YoY numbers have more than tripled, as compared to 86 units sold in July last year. MoM sales growth is at 83.55%, as compared to 152 units sold in June. VW Audi market share in July was 12.04%.
At number four is Jaguar Land Rover (JLR) with sales of 245 units in July. YoY growth is at 184.88%, as compared to 86 units sold in July last year. MoM numbers are almost double, as compared to 123 units sold in June. JLR market share in July was at 10.57%.
Next in the list is Volvo with sales of 119 units in July. YoY growth is at 20.20%, as compared to 99 units sold in July last year. MoM growth is much higher at 88.89%. The company had sold 63 units in June. Volvo market share in July is at 5.13%.
At number six, Porsche has the highest YoY growth in percentage terms. Part of Volkswagen Group, Porsche sold a total of 36 units in July. YoY growth is at 414.29%, as compared to 7 units sold in July last year. MoM growth is also highest in the list at 300%. The company had sold 9 units in June. Porsche market share in July is at 1.55%.
Luxury car brands with sales in single digits include Lamborghini (6 units), Bentley (5) and Rolls Royce (2). Lamborghini YoY growth is at 20%, as compared to 5 units sold in July last year. MoM growth is 25%, as compared to 4 units sold in June. Bentley’s YoY and MoM growth are at 400% and 100%, respectively. Rolls Royce YoY growth is flat, but MoM sales have improved by 200%.